Posted on 08/21/2014 6:58:15 AM PDT by mgist
bfl
What was stolen? Who was it stolen from? Where?
Thanks for the link.
I'm a freelance writer reporting on travel, tourism policy and business ethics. I highlight the balance of life, exploring leisure and wanderlust, while also reporting on the verity of the human spirit. I have a BA in Philosophy with a concentration in Values and Social Policy and an interdisciplinary accreditation in Peace and Conflict Studies. Email tips to tracey@emeraldtraveler.com and follow me on Twitter (@EmeraldTraveler) and Google+.
The author sounds like a really groovy chick!
“”The Fed argued that these reports overstated the size of the facilities “”
“facilities” - Lost me right there. I’m too old to understand the meaning of words aren’t what they’ve always been.
Stolen from tax payers. This is tax payers money going to a labyrinth of offshore banks accounts that all of these banks have.
The taxpayers have nevr been given a straight story on any of this, I don’t know what makes you think all the money was given back, while they are still throwing it around. Even the original TARP funds haven’t been fully collected.
http://wallstreetonparade.com/2012/08/the-untold-story-of-the-bailout-of-citigroup/
“On December 16, 2009, Citigroup announced it was selling more common stock to raise funds to repay $20 billion of its TARP funds. Selling more common stock meant it was diluting the taxpayer’s stake in the 7.7 billion shares still owned by the government.
The government put the taxpayer at risk for another full year before it dumped its 7.7 billion shares of common stock, selling it off from April 26, 2010 through December 10, 2010.
Both the Treasury and the Fed were hoping that the public would never hear the details of the trillions that were flowing to Wall Street behind the scenes, in addition to the publicly acknowledged programs. Once that information was released, we learned that Citigroup borrowed $2.513 trillion from the Fed between December 1, 2007 through July 21, 2010, according to the Government Accountability Office.
Those funds were loaned at an interest rate dramatically below the market rates that a subprime borrower like Citigroup would have paid in an honest market system. While Citigroup was charging struggling consumers rates as high as 17 percent, it was borrowing from the taxpayer at a fraction of one percent.
Isn’t it time for our government to speak honestly about the Citigroup bailout?”
The Fed neither spends nor lends taxpayer funds.
This is tax payers money going to a labyrinth of offshore banks accounts that all of these banks have
Wrong. Those banks that have an American division could take out fully collateralized loans. Loans that were, long ago, fully repaid. At a profit to the Fed.
I don’t know what makes you think all the money was given back,
You can see that by looking at the Fed's balance sheet.
Even the original TARP funds haven’t been fully collected.
Some money is still outstanding. The bank repayments more than covered all the bank loans. Even if not another bank TARP dollar is repaid, it was still profitable for the Treasury. Not to mention saving the banking system.
“On December 16, 2009, Citigroup announced it was selling more common stock to raise funds to repay $20 billion of its TARP funds. Selling more common stock meant it was diluting the taxpayer’s stake in the 7.7 billion shares still owned by the government.
OMG! That's funny. Selling shares meant it could repay a loan. And that's what the Treasury and Fed wanted, banks to raise more bank capital (like selling shares). And the government still made a huge profit when it sold all the shares of Citi.
Both the Treasury and the Fed were hoping that the public would never hear the details of the trillions that were flowing to Wall Street behind the scenes
Loans from the Fed were on every weekly Fed balance sheet release.
Once that information was released, we learned that Citigroup borrowed $2.513 trillion from the Fed between December 1, 2007 through July 21, 2010, according to the Government Accountability Office.
Yup. A bit at a time, repaid and borrowed again.
Those funds were loaned at an interest rate dramatically below the market rates that a subprime borrower like Citigroup would have paid in an honest market system.
Subprime? LOL!
What was the market rate for fully collateralized, overnight loans?
While Citigroup was charging struggling consumers rates as high as 17 percent, it was borrowing from the taxpayer at a fraction of one percent.
Nope. Tarp loans were a lot more expensive. And Fed loans did not involve taxpayer funds.
Thanks for the link.
Maybe look for one with fewer huge errors next time?
http://townhall.com/tipsheet/katehicks/2011/10/12/by_the_numbers_who_did_wall_street_buy_in_2008
The banksters bought and paid for Obama. The fact that you believe anything this Manchurian administration claims, says more about you, than anything else.
Americans are naive, but not stupid. Chavez had thousands of paid gargoyles all over the internet to influence public opinion. There is a war between good and evil. We have choices to make.
Actions have consequences, and we will pay consequences for our choices. God will take care of His enemies and their enablers. They have children, how they dare betray God is beyond my understanding?
While man may rationalize, Karma won’t. Good luck to you and yours.
That's hilarious! Where did I do that?
Americans are naive, but not stupid.
Except when it comes to banking. Then they'll believe all sorts of stupid crap.
Good luck to you and yours.
Don't ever change.
ok now my hair hurts
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